The British economist most often associated with the issue of economic rent for land was
A) John Maynard Keynes.
B) Jeremy Bentham.
C) A. W. Phillips.
D) David Ricardo.
Answer: D
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When economists say that private investment is "autonomous," they mean that it:
a. will never change. b. is not dependent on the current level of disposable income. c. is determined by the "animal spirits" of business decision makers. d. is determined by the level of saving.
The federal budget deficit is calculated each year by:
A. subtracting consumption and investment from government spending. B. adding up consumption, investment, government purchases, and net exports. C. adding up the difference between government revenues and spending over the years of the nation's existence. D. subtracting government spending from government revenues.
If the CPI was 121.5 at the end of last year and 138.3 at the end of this year, the inflation rate over these two years was
A) 10.2 percent. B) 13.8 percent. C) 12.2 percent. D) 16.8 percent.
A country's index of openness can never exceed 100 in value
Indicate whether the statement is true or false